IA HF2198

Requires web search portal businesses and data center businesses to file annual reports with the Iowa Department of Revenue by January 31 each year, disclosing aggregate sales price amounts of exempt property, backup power generation fuel, and electricity purchased.

Beginning January 31, 2027, the Department of Revenue must estimate the amount of tax saved by each business based on the disclosed sales price amounts from their annual reports.

Makes the name of each web search portal or data center business and its estimated tax savings a public record starting January 31, 2027.

Amends Iowa Code sections 422.20 and 423.3 to add these disclosure requirements as exceptions to tax return confidentiality rules.

Applies to businesses receiving sales tax exemptions under existing Iowa tax incentive programs for web search portals and data centers.